I always thought "In ESCDA and SHA256 We Trust" would be a more appropriate motto.

But seriously, why do you think the government hates bitcoin? I see the government attempting to regulate it, so it doesn't become a method to break existing tax evasion/money laundering laws, but nothing more onerous than what it already applies to existing payment methods or bartering systems. You would still get reported to the IRS if you deposited $10,000 worth of cash to your bank account vs. a transfer of $10,000 of USD from a bitcoin exchange.

I always thought "In ESCDA and SHA256 We Trust" would be a more appropriate motto.

But seriously, why do you think the government hates bitcoin? I see the government attempting to regulate it, so it doesn't become a method to break existing tax evasion/money laundering laws, but nothing more onerous than what it already applies to existing payment methods or bartering systems. You would still get reported to the IRS if you deposited $10,000 worth of cash to your bank account vs. a transfer of $10,000 of USD from a bitcoin exchange.

Because in a post BTC world, you don't but 10K fiat into your bank account, you pay in BTC

I always thought "In ESCDA and SHA256 We Trust" would be a more appropriate motto.

But seriously, why do you think the government hates bitcoin? I see the government attempting to regulate it, so it doesn't become a method to break existing tax evasion/money laundering laws, but nothing more onerous than what it already applies to existing payment methods or bartering systems. You would still get reported to the IRS if you deposited $10,000 worth of cash to your bank account vs. a transfer of $10,000 of USD from a bitcoin exchange.

Because in a post BTC world, you don't but 10K fiat into your bank account, you pay in BTC

And if you buy a nice car with $10K in BTC, the car dealer would still have to report you as if you bought it with cash. I'm not saying it's right, but I don't see how it is a narrow attack on transacting in bitcoin versus transacting in cash.

I sense relatively little 'hate' toward Bitcoin from the government or from various other sectors. Much less than I had anticipated given the nature of the Bitcoin system. For the most part it seems like most elements within the government and in various other power spheres (media, various corporate sectors, etc) simply have a sense of wonder and bafflement more than anything. Those who thought that regulatory bodies, law enforcement, etc were going to somehow stop trying to do their jobs, or that that should be their reaction to Bitcoin were being unrealistic. I'm surprised at the U.S. flexibility so far.

That said, I was blown away by the relatively neutral reaction of the Chinese govt half a year ago. We see now how quickly things snapped back. The best hypothesis I can see is that I overestimated the amount of coordination within the Chinese central government and there are a different blocks with different ideas about policy and different levels of influence. My suspicion is that the U.S. govt is a bit more 'tight' in this respect but the same dynamics are at play here as well. I would not be surprised to see significant shifts in the level of tolerance towards Bitcoin which is expressed, and see them happen fairly rapidly under certain sets of conditions.

I always thought "In ESCDA and SHA256 We Trust" would be a more appropriate motto.

But seriously, why do you think the government hates bitcoin? I see the government attempting to regulate it, so it doesn't become a method to break existing tax evasion/money laundering laws, but nothing more onerous than what it already applies to existing payment methods or bartering systems. You would still get reported to the IRS if you deposited $10,000 worth of cash to your bank account vs. a transfer of $10,000 of USD from a bitcoin exchange.

Because in a post BTC world, you don't but 10K fiat into your bank account, you pay in BTC

And if you buy a nice car with $10K in BTC, the car dealer would still have to report you as if you bought it with cash. I'm not saying it's right, but I don't see how it is a narrow attack on transacting in bitcoin versus transacting in cash.

Unless you buy from a car dealer that doesn't. I see you like trolling gov't fear around here. What exactly do you do for a living? Just post shit for the IRS?

And if you buy a nice car with $10K in BTC, the car dealer would still have to report you as if you bought it with cash. I'm not saying it's right, but I don't see how it is a narrow attack on transacting in bitcoin versus transacting in cash.

Unless you buy from a car dealer that doesn't. I see you like trolling gov't fear around here. What exactly do you do for a living? Just post shit for the IRS?

The car dealership must file a report with FinCEN whether you pay by BitPay or bankwire. I don't think this has anything to do with the IRS, however. And having a report filed doesn't mean you've done anything wrong. Here is the quote from BCB:

And if you buy a nice car with $10K in BTC, the car dealer would still have to report you as if you bought it with cash. I'm not saying it's right, but I don't see how it is a narrow attack on transacting in bitcoin versus transacting in cash.

Unless you buy from a car dealer that doesn't. I see you like trolling gov't fear around here. What exactly do you do for a living? Just post shit for the IRS?

The car dealership must file a report with FinCEN whether you pay by BitPay or bankwire. I don't think this has anything to do with the IRS, however. And having a report filed doesn't mean you've done anything wrong. Here is the quote from BCB:

If I just send right to the dealers bitcoin address - no Bitpay is required, and so no reporting is required. I know of a couple dealers who would do that and never say a word about it.

And for the record, I don't believe for a minute that the high level members of government are even remotely religious. In many great civilizations throughout history, the government and monarchs feigned religious beliefs in public to satisfy the public (and keep them in line, but that's a whole separate issue) but in private life they in fact were often not religious at all.

And for the record, I don't believe for a minute that the high level members of government are even remotely religious. In many great civilizations throughout history, the government and monarchs feigned religious beliefs in public to satisfy the public (and keep them in line, but that's a whole separate issue) but in private life they in fact were often not religious at all.

Throughout history, some parasitical elites used religion and god to control the masses,Others banned religion. The mind control tactics were different but had same goal.